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08 May 24	Georgia: Block Energy announces Carbon Sequestration MoU Block Energy, the development and production company focused on Georgia, has announced a Memorandum of Understanding ('MoU') with JSC Rustavi Azot, a subsidiary of Indorama Corporation, one of Asia's leading chemical companies, to develop the Carbon Capture and Storage ('CCS') opportunity identified within Block's Patardzeuli-Samgori Middle Eocene reservoir.
08 May 24	VAALCO Energy announces first quarter 2024 results VAALCO Energy has reported operational and financial results for the first quarter of 2024. VAALCO reported net income of $7.7 million for the first quarter of 2024 which was down compared with net income of $44.0 million in the fourth quarter of 2023 and up compared to $3.4 million in the first quarter of 2023.
08 May 24	TGS announces Q1 2024 results TGS has reported interim financial results for Q1 2024. The quarter reflected a strong development in multi-client late sales and high POC early sales rate, resulting in solid profitability in POC financials. POC revenues were USD 227 million compared to USD 229 million in Q1 2023. POC EBITDA of USD 143 million versus USD 119 million in Q1 2023. POC operating result was USD 40 million compared to USD 25 million in Q1 2023.
08 May 24	PGS announces first quarter 2024 results PGS announces first quarter 2024 results. Produced Revenues of $222.6 million, compared to $172.2 million in Q1 2023. Produced EBITDA of $112.5 million, compared to $71.5 million in Q1 2023. Produced EBIT (ex. Impairments and other charges, net) of $26.1 million, compared to a loss of $19.7 million in Q1 2023.
08 May 24	DNO reports strong first quarter results, steps up North Sea activity DNO, the Norwegian oil and gas operator, has reported first quarter 2024 operating profit of USD 61 million, 61 percent higher than the previous quarter, on the back of revenues totaling USD 183 million. Free cash flow at USD 44 million was up 31 percent from the fourth quarter of 2023.
08 May 24	Norway: Var Energi sells Norne area assets and increases stake in Ringhorne East Vår Energi has agreed the sale of its Norne area assets to DNO Norge for a fixed after-tax consideration of USD 51 million, and DNO Norge will transfer to Vår Energi their stake in the Ringhorne East unit.
07 May 24	TotalEnergies and Sinopec strengthen cooperation On the occasion of the state visit to France by the President of the People's Republic of China, TotalEnergies and China Petroleum and Chemical Corporation ('SINOPEC') signed a strategic cooperation agreement to deepen their collaboration, notably in low-carbon energies.
07 May 24	UK: PGS covers licence areas in UK 33rd Round final awards PGS data covers areas offered for award in Tranche 3 of the UK 33rd Round, announced last week by the NSTA. PGS has MultiClient coverage to support energy companies’ next exploration steps and accelerate the timeline from award to production, with high-quality GeoStreamer 3D seismic, and including the brand new Southern North Sea 3D Vision over awarded blocks.
07 May 24	Seadrill announces new contract awards for two drillships Seadrill has announced contract awards for two drillships. The West Capella has secured a one-well contract in South Korea and the West Neptune has secured a six-month contract extension with an independent operator in the U.S. Gulf of Mexico.
07 May 24	Kosmos Energy announces first quarter 2024 results Kosmos Energy has announced its financial and operating results for the first quarter of 2024. For the quarter, the Company generated a net income of $92 million. When adjusted for certain items that impact the comparability of results, the Company generated an adjusted net income of $99 million for the first quarter of 2024.
07 May 24	Zimbabwe: Invictus reports new Cabora Bassa 2023 2D infill seismic survey identifies multiple prospects Invictus Energy has provided an update on the interpretation of new Cabora Bassa 2023 2D Infill Seismic Survey ('CB23 survey') results from its 80% owned and operated Cabora Bassa Project in Zimbabwe. Multiple prospects have been identified in the Dande Formation with seismic amplitude characteristics suggestive of reservoired hydrocarbons.
07 May 24	UK: Finder awarded additional licences in 33rd UK Offshore Licensing Round Finder Energy has received offer letters from the North Sea Transition Authority (NSTA) notifying that it has been successful in winning two licences in the final tranche of awards in the 33rd UK Offshore Licensing Round.
07 May 24	UK: Orcadian Energy offered Southern North Sea licence as part of the 33rd Licensing Round The North Sea Transition Agency ('NSTA') has announced a further tranche of licence awards in the 33rd Round and has indicated that Orcadian Energy will be offered a further licence in the Southern North Sea in addition to the two Central North Sea licences offered on 31 January 2024.
07 May 24	UK: Baron Oil provides update on UK 33rd Offshore Licensing Round Baron Oil has been informed that its application, as a joint venture non-operating partner, in the UK offshore 33rd Round of licensing has been unsuccessful and consequently the Company has not been awarded any blocks in the Licensing Round. The Company no longer holds UK licences and will focus on its core area of SE Asia.
07 May 24	BP announces first quarter 2024 results BP has announced its first quarter 2024 results. The Company reports adjusted EBITDA $10.3 billion; underlying RC profit $2.7 billion; upstream production grew +2.1% vs 1Q23.
07 May 24	Uruguay: Challenger Energy provides update on strategic investment by Charlestown Energy and Chevron farm-out approval process Challenger Energy has entered into long-form legal documentation to give effect to the term sheet for an investment in the Company by Charlestown Energy Partners. Accordingly, Charlestown will advance a £1.5m loan to the Company on terms and conditions as previously announced. Challenger also advises that the regulatory approval process for the farm-out of a 60% interest in the AREA OFF-1 licence, offshore Uruguay, to a subsidiary of Chevron, is progressing.
07 May 24	Sudan: Wildcat Petroleum provides update from recent visit by Company to South Sudan After a recent very successful trip to South Sudan, Wildcat Petroleum has announced the signing of an MOU with the Ministry of Petroleum with regard to the possible development and commercial exploitation of the hydrocarbon assets in selected fields in the Republic of South Sudan.
07 May 24	US: Union Jack Oil announces positive Andrews 1-17 well update Union Jack Oil, a UK and USA focused onshore hydrocarbon production, development, exploration and investment company, has announced a positive update in respect of the Andrews 1-17 well, drilled to test the West Bowlegs Prospect, located in Seminole County, Oklahoma, United States. The well has been declared a commercial discovery and first oil sales have already been made.
07 May 24	US/Australia: Mosman Oil and Gas announces production increase at Stanley and EP145 update Mosman Oil and Gas has provided an update on its Stanley project in the US where the recent gross production has increased 84% to circa 221 boepd. This is a material improvement from the recently notified March quarter gross average flow rate of 120 boepd.
07 May 24	China: CNOOC Limited announces Bozhong 19-6 Gas Field 13-2 Block 5 Well Site Development Project on-stream CNOOC Limited has announced that the Bozhong 19-6 Gas Field 13-2 Block 5 Well Site Development Project has commenced production. The project, located in central Bohai Sea, is expected to achieve a peak production of approximately 5,800 barrels of oil equivalent per day in 2026.
07 May 24	Denmark: BlueNord announces first quarter 2024 results BlueNord has published its first quarter of 2024 results. During the quarter, the Company delivered strong operational and financial performance. In addition, first gas from Tyra II was successfully achieved which means the project has entered a new phase of ramp-up where plateau production is expected in Q4 of 2024.
07 May 24	Germany: TGS launches multi-client wind and metocean measurement campaign offshore Germany TGS has announced the commencement of its latest multi-client wind measurement campaign using two LiDAR buoys offshore Germany in the North Sea. The collected data is streamed to shore and used to enhance decision-making to support several current and future wind lease rounds in the German Bight.
06 May 24	BW Offshore closes the sale of the FPSO Polvo to BW Energy Following the announcement on 22 April 2022, whereby BW Offshore announced the agreement to divest the FPSO Polvo to BW Energy for USD 50 million, BW Energy has received the final instalment and the transaction has been concluded.
06 May 24	Norway: ConocoPhillips announces successful first oil production at Eldfisk North ahead of plan The licensees of the Eldfisk Field, operated by ConocoPhillips Skandinavia, have announced successful first oil production on the Eldfisk North Project, located in the Greater Ekofisk Area in the North Sea. Oil and gas resources from the new project development are being produced some weeks ahead of plan.
06 May 24	Saipem's Hydrone-R achieves important milestone of uninterrupted subsea operations Saipem’s underwater intervention drone Hydrone-R, currently operating on Equinor's Njord Field development project offshore Norway, has achieved the milestone for continuous subsea residency of 167 days.